Airopack Technology Group – Swiss SIX Exchange regulation grants an extension of the publication deadline for Airopack’s 2018 annual report

·        Airopack expects to publish its 2018 annual report on 1 July 2019, together with its restated 2018 half- year report
  • Airopack’s annual ordinary shareholders’ meeting will be re-scheduled to 7 August 2019 (previously scheduled for 25 June 2019)
  • Airopack today reports preliminary and unaudited key figures (net sales, EBITDA and net loss) for its 2018 financial year

Airopack Technology Group AG (“Airopack”) announces on April 30,2019 that with decision of 26 April 2019, SIX Exchange Regulation AG has granted an extension of the publication deadline for Airopack’s 2018 annual report until 1 July 2019. The text of the SIX Exchange Regulation’s decision is set out below:

“I. The application of Airopack Technology Group AG for granting an extension of the deadline to publish its 2018 annual report and to file such report with SIX Exchange Regulation AG until  1 July 2019 is granted with the following reservation (lit. a) and under the following conditions (lit. b):

a.                    SIX Exchange Regulation AG, reserves the right to suspend trading in the shares in Airopack Technology Group AG, in case the 2018 annual report is not published and filed with SIX Exchange Regulation AG until Monday, 1 July 2019, 11.59 pm CET, at the latest, in accordance with the provisions regarding ad hoc publicity (art. 53 of the Listing Rules in connection with the Directive on Ad hoc Publicity).

b.                    Airopack Technology Group AG is required to publish a notice in accordance with the provisions regarding ad hoc publicity (art. 53 Listing Rules in connection with the Directive on Ad hoc Publicity) until Thursday, 2 May 2019, 07.30 am CET, at the latest. The ad hoc notice must contain:

  • an unaltered reproduction of the wording of section I. of this decision, placed in a prominent position in the ad hoc notice; and
  • a statement regarding unaudited key figures such as net revenues, EBITDA, EBIT, profit/loss, balance sheet total, equity etc. for the business year 2018 of Airopack Technology Group AG; and
  • the reasons for the application of Airopack Technology Group AG for granting an extension of the deadline to publish its 2018 annual report and to file such report with SIX Exchange Regulation AG.”
  •  

Airopack expects to publish the annual report for its 2018 financial year on 1 July 2019, together with its restated 2018 half-year report. Airopack had to re-schedule the publication of its 2018 annual report due to the provisional moratorium granted by the cantonal court of Zug and related enforcement actions by the creditors of the Airopack group, which resulted in the separation of Airopack and its direct subsidiary I.P.S. Holding B.V. from the operating subsidiaries (see press release dated 8 March 2019). Furthermore, as previously reported (see press releases dated January 11 and January 16), due to the findings of an investigation into Airopack’s financial statements and past management and accounting practices, the 2018 half-year report has to be restated and certain adjustments have to be made to the 2018 accounts of Airopack.

As a result of the late publication of the 2018 annual report, Airopack also announces today that it is re-scheduling its annual ordinary shareholders meeting (“AGM”). The AGM will now take place on August 7, 2019.

Finally, Airopack announces today preliminary and unaudited key figures with respect to its business activities during the 2018 financial year. For the 2018 financial year, net sales amounted to EUR 18.849 million. During 2018, Airopack generated an EBITDA of EUR -30.129 million and a net result of EUR -56.065 million. These financial key figures are of a preliminary nature and have not yet been audited by Airopack’s auditors. Accordingly, these financial key figures may be subject to change.

www.airopackgroup.com